Toyobo Co (3101) Q3 2026 earnings summary

Executive summary

• Operating profit for Q3 FY 3/26 rose 79.6% year-over-year to ¥18.3 bn, with net profit at ¥7.8 bn, driven by strong industrial film demand and improved packaging film earnings.

• Net sales for the nine months ended December 31, 2025, decreased by 2.1% year-over-year to ¥307.5 bn, but profitability improved due to higher gross margin and cost controls.

• Profit attributable to owners of parent increased 986.2% year-over-year to ¥7.8 bn.

• Comprehensive income rose 151.5% year-over-year to ¥14.2 bn.

• Upward revision of full-year forecasts: operating profit expected at ¥24.0 bn and net profit at ¥8.5 bn.

Financial highlights

• Gross profit increased 7.7% year-over-year to ¥76.6 bn, with gross margin rising from 22.6% to 24.9%.

• EBITDA for Q3 FY 3/26 was ¥36.2 bn, up 33.4% year-over-year.

• EPS rose sharply to ¥88.72, and annualized ROE improved to 5.2%.

• CAPEX decreased 35.5% year-over-year to ¥22.2 bn.

• Total assets as of December 31, 2025, were ¥616.8 bn, with net assets at ¥240.9 bn and an equity ratio of 33.0%.

Outlook and guidance

• Full-year forecast for fiscal year ending March 31, 2026: net sales of ¥430.0 bn (+1.9% year-over-year), operating profit of ¥24.0 bn (+44.1%), ordinary profit of ¥19.5 bn (+84.1%), and net profit of ¥8.5 bn (+324.3%).

• Net profit per share forecasted at ¥96.36 for the full year.

• Dividend forecast maintained at ¥40.00 per share.

• No revision to business environment forecasts since November 2025.